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<br /> with others who may not sign this Security Instrument. Nothing in this Security Instrument constitutes a
<br /> commitment to make additional or future loans or advances. Any such commitment must be in writing. In the
<br /> event that Lender fails to provide notice of the right of rescission, Lender waives any subsequent security
<br /> interest in the Grantor's principal dwelling that is created by this Security Instrument. This Security
<br /> Instrument will not secure any debt for which a non-possessory, non-purchase money security interest is
<br /> created in "household goods" in connection with a "consumer loan," as those terms are defined by federal
<br /> law governing unfair and deceptive credit practices. This Security Instrument will not secure any debt for
<br /> which a security interest is created in "margin stock" and Lender does not obtain a "statement of purpose,"
<br /> as defined and required by federal law governing securities.
<br /> C. Sums Advanced. All sums advanced and expenses incurred by Lender under the terms of this Security
<br /> Instrument.
<br /> 4. PAYMENTS. Grantor agrees that all payments under the Secured Debts will be paid when due and in
<br /> accordance with the terms of the Secured Debts and this Security Instrument.
<br /> 5. WARRANTY OF TITLE. Grantor warrants that Grantor is or will be lawfully seized of the estate conveyed by
<br /> this Security Instrument and has the right to irrevocably grant, convey and sell the Property to Trustee, in trust,
<br /> with power of sale. Grantor also warrants that the Property is unencumbered, except for encumbrances of
<br /> record.
<br /> 6. PRIOR SECURITY INTERESTS. With regard to any other mortgage, deed of trust, security agreement or other
<br /> lien document that created a prior security interest or encumbrance on the Property, Grantor agrees:
<br /> A. To make all payments when due and to perform or comply with all covenants.
<br /> B. To promptly deliver to Lender any notices that Grantor receives from the holder.
<br /> C. Not to allow any modification or extension of, nor to request any future advances under any note or
<br /> agreement secured by the lien document without Lender's prior written consent.
<br /> 7. CLAIMS AGAINST TITLE. Grantor will pay all taxes, assessments, liens, encumbrances, lease payments,
<br /> ground rents, utilities, and other charges relating to the Property when due. Lender may require Grantor to
<br /> provide to Lender copies of all notices that such amounts are due and the receipts evidencing Grantor's
<br /> payment. Grantor will defend title to the Property against any claims that would impair the lien of this Security
<br /> Instrument. Grantor agrees to assign to Lender, as requested by Lender, any rights, claims or defenses Grantor
<br /> may have against parties who supply labor or materials to maintain or improve the Property.
<br /> 8. DUE ON SALE. Lender may, at its option, declare the entire balance of the Secured Debts to be immediately
<br /> due and payable upon the creation of, or contract for the creation of, a transfer or sale of the Property. This
<br /> right is subject to the restrictions imposed by federal law governing the preemption of state due-on-sale laws, as
<br /> applicable.
<br /> 9. WARRANTIES AND REPRESENTATIONS. Grantor has the right and authority to enter into this Security
<br /> Instrument. The execution and delivery of this Security Instrument will not violate any agreement governing
<br /> Grantor or to which Grantor is a party.
<br /> 10. PROPERTY CONDITION, ALTERATIONS AND INSPECTION. Grantor will keep the Property in good condition
<br /> and make all repairs that are reasonably necessary. Grantor will not commit or allow any waste, impairment, or
<br /> deterioration of the Property. Grantor will keep the Property free of noxious weeds and grasses. Grantor agrees
<br /> that the nature of the occupancy and use will not substantially change without Lender's prior written consent.
<br /> Grantor will not permit any change in any license, restrictive covenant or easement without Lender's prior
<br /> written consent. Grantor will notify Lender of all demands, proceedings, claims, and actions against Grantor,
<br /> and of any loss or damage to the Property.
<br /> No portion of the Property will be removed, demolished or materially altered without Lender's prior written
<br /> consent except that Grantor has the right to remove items of personal property comprising a part of the Property
<br /> that become worn or obsolete, provided that such personal property is replaced with other personal property at
<br /> least equal in value to the replaced personal property, free from any title retention device, security agreement or
<br /> other encumbrance. Such replacement of personal property will be deemed subject to the security interest
<br /> created by this Security Instrument. Grantor will not partition or subdivide the Property without Lender's prior
<br /> written consent.
<br /> Lender or Lender's agents may, at Lender's option, enter the Property at any reasonable time for the purpose of
<br /> inspecting the Property. Lender will give Grantor notice at the time of or before an inspection specifying a
<br /> reasonable purpose for the inspection. Any inspection of the Property will be entirely for Lender's benefit and
<br /> Grantor will in no way rely on Lender's inspection.
<br /> 11. AUTHORITY TO PERFORM. If Grantor fails to perform any duty or any of the covenants contained in this
<br /> Security Instrument, Lender may, without notice, perform or cause them to be performed. Grantor appoints
<br /> Lender as attorney in fact to sign Grantor's name or pay any amount necessary for performance. Lender's right
<br /> to perform for Grantor will not create an obligation to perform, and Lender's failure to perform will not preclude
<br /> Lender from exercising any of Lender's other rights under the law or this Security Instrument. If any
<br /> construction on the Property is discontinued or not carried on in a reasonable manner, Lender may take all steps
<br /> necessary to protect Lender's security interest in the Property;including completion of the construction.
<br /> 12. DEFAULT. Grantor will be in default if any of the following occur:
<br /> A. Payments. Grantor fails to make a payment in full when due.
<br /> B. Insolvency. Grantor makes an assignment for the benefit of creditors or becomes insolvent, either because
<br /> Grantor's liabilities exceed Grantor's assets or Grantor is unable to pay Grantor's debts as they become due.
<br /> C. Deeth or Incompetency. Grantor dies or is declared incompetent.
<br /> D. Failure of Condition or Term. Grantor fails to pay, or perform any condition or to keep any promise or
<br /> covenant on this or any debt or agreement Grantor has with Lender.
<br /> TRACY WATTS
<br /> Nebraska Dead Of Trust Initials
<br /> NE/2enckk0548000000000000001 E0000001 Fn6 m7 996 Bankers Systems,Inc.,St.Ctoud,MN age 2
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